Archive for December, 2018

In a sign of thingsĀ  to come, after the Royal Commission, APRA went on the attack disqualifying a number of senior officials in IOOF – one of the major Australian wealth management group.

It practically never happened before.

https://www.investordaily.com.au/superannuation/44118-apra-commences-disqualification-proceedings-against-ioof?utm_source=InvestorDaily&utm_campaign=07_12_18&utm_medium=email&utm_content=1

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The Bismark was the largest and more powerful Nazi warship.

Huaweii is the largest Chinese tech company. It dwarfs ZTE and, while Tencent and Alibaba are prodigious internet -selling machines, Huaweii is into the hardware…much more important.

So it is an important and “to the core” hit. The investigation started in April 2018.

Huaweii has always been considered to be China tech arm – so much that has been banned for 5G networks in Australia and New Zealand and the ban is in consideration in Canada, Germany and UK.

It is a proper ban as it is quite renown thatĀ  Chinese products leave backdoors open for the MSS, the Chinese spy agency.

But the Chinese anger on it has to be moderate. The US could easily ban the sale of US products to Huaweii and this would be so much more damaging that any trade war.

Probably China could arrest some US citizen – but it will have to be a non-trade-war revenge as Huaweii is too critical to China.

 

This will spur even more the Chinese to produce chips and hardware in China – not an easy feat.

The new cold war has just started.